BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
No 31/2013:
Money demand models for Russia: A sectoral approach
Anna Krupkina ()
and Alexey Ponomarenko ()
Abstract: We estimate money demand models for certain monetary
aggregates across different institutional sectors (a novelty for the
Russian case). Our results comprise a collection of money demand equations
that include different combinations of explanatory variables. Comparing the
validity of these models on the basis of statistical criteria is virtually
implausible. Therefore we suggest the simultaneous employment of a whole
set of such models and illustrate the approach by presenting the
distribution of monetary overhangs calculated on the basis of the estimated
models.
Keywords: monetary aggregates; money demand; households; non-financial corporations; (follow links to similar papers)
JEL-Codes: C22; D14; D22; E41; (follow links to similar papers)
32 pages, December 17, 2013
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